SG Finserve Q3 FY26: PAT up 15%, loan book 12%

Overview: what SG Finserve reported in Q3 FY26

SG Finserve Ltd (NSE: SGFIN, BSE: 539199) posted an improved set of operating metrics in Q3 FY26, led by higher disbursements, a larger loan book, and rising profitability. The company’s update showed growth across key NBFC line items such as net interest income (NII) and profit after tax (PAT). It also reiterated that gross NPAs were NIL for both Q2 and Q3 FY26.

Alongside the quarterly numbers, management commentary highlighted an RBI approval for the company’s factoring business. That regulatory clearance is positioned as an expansion of SG Finserve’s offering across supply chain-linked financing.

Stock and key snapshot points cited in the data

As of 16 April 2026, the share price of SG Finserve was reported at ₹473.60, with a quoted bid/ask of 473.20 / 474.35 on NSE. The dataset also referenced “Operating Revenue” of ₹235.78 crore, promoter holding of 52.92%, and EPS (TTM) of ₹16.57.

On profitability ratios, the same dataset listed ROE at 9.54% and indicated sales growth of -9.85% (as presented in the ratios table). The company was tagged under Sector: Finance and Industry: Finance - NBFC.

Q3 FY26 results: disbursements, loan book, NII and PAT

In the Q3 FY26 summary shared, SG Finserve reported higher activity and earnings versus Q2 FY26. Gross disbursements increased by 12% QoQ (from 5,846 to 6,524, as reported). The loan book (EOP) grew 12% QoQ, from 2,878 to 3,210.

Net interest income rose from ₹44.39 crore in Q2 FY26 to ₹49.88 crore in Q3 FY26, a 12% increase. PAT increased from ₹28.40 crore to ₹32.47 crore, up 15%. The company also reported Gross NPA (%) as NIL in both quarters.

9M FY26 performance: faster loan book expansion

For the nine-month period, the company’s disclosed summary showed a sharp expansion in the loan book. Loan book (EOP) increased from 1,568 in 9M FY25 to 3,210 in 9M FY26, a 105% rise.

The company reported gross disbursements rising 40% from 12,647 to 17,654 (as presented). NII grew from ₹103.50 crore to ₹137.05 crore, up 32%. PAT increased from ₹57.20 crore to ₹85.39 crore, up 49%.

Quarterly profit trend: December 2024 to December 2025

The quarterly series in the provided data shows steady improvement in net profit over five reported quarters. Net profit moved from ₹23.69 crore (Dec 2024) to ₹32.47 crore (Dec 2025). Adjusted EPS also increased from ₹4.24 to ₹5.81 in the same period.

This progression aligns with the separate note that SG Finserve’s standalone net profit rose 37.06% to ₹32.47 crore in the December 2025 quarter, compared with ₹23.69 crore in the December 2024 quarter.

Profitability and ratios referenced in the dataset

The dataset highlighted profitability using PAT margin and multi-year growth rates. It cited net profit of ₹80.9902 crore and a three-year compounded profit growth of 369.128246092542%, along with a PAT margin of 47.3521%.

It also listed a “PAT margin has surged by 5.9305%” as a strength, and said the company maintained a ROA of 4.2512% over the last three years. Another cited metric was “Operating Income has grown well… 3 years CAGR 715.113281488512%,” presented as part of the strengths section.

Separately, the ratios table for Mar 2025 showed ROE of 9.54% and ROCE of 6.83%, with P/E of 28.09x and price-to-book of 2.53x (as listed).

Loan book update and asset quality claims

A corporate update referenced a provisional Q3 FY26 loan book of ₹3,211 crore, up 105% YoY and 12% QoQ, indicating continued momentum ahead of formal results. The same data pack also included a “Key Positives” list stating the company has had zero NPAs since inception, and cited ₹52,000 crore disbursed over 36 months.

The Q3 FY26 table also reported Gross NPA (%) as NIL for both Q2 and Q3 FY26. These disclosures, taken together, frame asset quality as a central element in how the company is positioning its growth.

RBI approval for factoring: what management said

In management commentary attributed to Vinay Gupta (CEO), SG Finserve said it was “delighted” to report consistent growth and stated that RBI approval for the factoring business strengthens its core offering and enables deeper penetration across the supply chain ecosystem.

Sanjay Rajput (CFO) added that with a strong equity base, conservative leverage, and profitability metrics, the company is positioned to deliver 20% AUM CAGR and 30% PAT CAGR through FY2030 (as stated). The dataset also cited an equity base of ₹1,071 crore, and mentioned ₹338 crore additional equity expected by April 2026.

Shareholding, flags, and other indicators mentioned

The snapshot listed promoter holding at 52.92%. It also flagged that “DIIs decreased their shareholding last quarter” under weaknesses, without providing a figure.

The dataset labelled “Strengths (13)” including “good quarterly growth in the recent results,” and listed “Opportunities (4)” including “companies with Price to Earnings (PE) less than average 3 Year PE, 5 Year PE and 10 Year PE” (as phrased). It also showed “Threats (0)” for the stock in that summary.

Market impact: how investors may read the update

From the numbers provided, the key market-facing takeaway is the combination of QoQ growth in loan book, NII, and PAT in Q3 FY26, alongside a stated NIL GNPA status in the quarterly table. For NBFCs, the interaction between growth and asset quality is typically the main lens through which quarterly updates get interpreted.

At the same time, the ratios table shows ROE at 9.54% (Mar 2025) and lists leverage metrics such as total debt/equity at 1.54x (Mar 2025). Those figures provide context for the CFO’s statement about conservative leverage and future growth targets, but investors generally track whether those targets translate into reported financials over subsequent quarters.

Conclusion: what to track next

SG Finserve’s Q3 FY26 update pointed to 12% QoQ loan book growth, 12% QoQ NII growth, and 15% QoQ PAT growth, with Gross NPA reported as NIL. Management also highlighted RBI approval for its factoring business and reiterated longer-term AUM and PAT CAGR targets.

The next checkpoints for readers will be subsequent quarterly disclosures on loan book trajectory, NII and PAT progression, and any updates on factoring business rollout and the equity raise expected by April 2026 (as cited in the dataset).